Personal Financial Planning

“Financial planning” is often used as a tool to sell investments and insurance products, or tax advice, or wills and trusts. That is not necessarily a bad thing. Without knowledgeable advice, these products and services would be a waste of money. True financial planning, however, does not look at these matters in isolation. Good planning requires that we consider the way these issues interact with one another.

At our firm, we start by considering where you are today. We listen to your goals and expectations for the future. Then, to the extent you desire, we stand ready to assist you in all the disciplines of personal financial management.

Estate Planning

As of 2007, U.S. taxes reach 46% for estates of more than $2 million. Rates may be even higher when additional factors such as state death taxes or generation-skipping bequests are considered. These taxes can have a tremendous impact on a family’s long-term financial position. Tax-saving strategies must be balanced, however, with the needs of the family.

We favor estate plans that promote family harmony, provide for the support of heirs without discouraging the heirs’ own enterprise, and anticipate future contingencies such as a spouse’s remarriage, a child’s divorce or a family member’s bankruptcy. We have helped some of America’s wealthiest families establish charitable trusts, family investment entities, and other vehicles that transfer assets while minimizing income, gift, estate, and generation-skipping transfer taxes. Our president, Larry M. Elkin, was 2005-2006 president of the Estate Planning Council of New York City, Inc.

Insurance Consulting

We provide substantial value through careful design and evaluation of insurance packages and trusts. While we sell no product and accept no commissions, we have significant experience in most aspects of personal and business risk management. Just as important, we convey information on complex insurance issues clearly to our clients.

Trust Design

In conjunction with our clients’ attorneys, we develop trusts for clients that address personal interests, tax concerns and philanthropic goals.

Charitable Planning

We have helped our clients implement many charitable lead trusts, charitable remainder trusts and other planned giving vehicles, including private foundations. Once these vehicles are established we assist as needed with operation, management and tax and regulatory compliance, which allows clients and their families to be as actively engaged in their philanthropy as they wish.

Business Valuation & Appraisal

We provide valuation services for closely held businesses and investment entities in accordance with the latest and highest standards in the industry. Clients typically use our valuation reports in gift and estate tax returns, or for business planning and due diligence purposes.

Family Office & Business Management

Many of our clients prefer to pursue interests other than their financial affairs. Career, family and charitable commitments may occupy all their available time. Our Family Office and Business Management service can build, oversee and safeguard assets of significant value for families and individuals. We can design, develop, administer and in some cases operate a client's closely held business entity. We also can manage personal financial and real estate holdings, verify and pay bills, prepare and coordinate tax filings, and manage household employees. We maintain constant communication with our clients about their preferences and concerns.

Executive Financial Planning

We provide company- and employee-paid financial planning programs for executives of publicly and privately held businesses. Each program is customized to provide the desired range of compensation, retirement, estate, investment, and tax planning services, with optional tax return preparation available as well.

Cross-Border Planning

We handle income and estate tax planning for non-U.S. citizens with interests in the United States and for U.S. citizens with exposure abroad.

2 Overhill Road, Suite 100 Scarsdale, NY 10583 Phone (914) 723-5000 Fax (914) 723-5139		110 E. Broward Blvd., Suite 1620 Fort Lauderdale, FL 33301 Phone (954) 524-5552 Fax (954) 524-5554
All information on this site © 1995-2008 Palisades Hudson Financial Group LLC